A group of individuals that are elected as, or elected to act as, representatives of the stockholders to establish corporate management related policies and to make decisions on major company issues. Such issues include the hiring/firing of executives, dividend policies, options policies and executive compensation. Every public company must have a board of directors.
Reference: http://www.investopedia.com/terms/b/boardofdirectors.asp
I hope this helps! :)
24. November 2014
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